What does the word coinage refer to. I have a 1967 dollar that could be worth a few dollars or it could be worth a lot of money. How do I know what it is worth. Also why do certain individual coins have one value and the same coin in a proof set is worth less. Thanks

Almost without exception, circulation strikes in the higher grades will always be worth more than a proof. Just by their definition and the method by which they are struck, a proof coin is meant to be entombed in plastic or mylar for the rest of its life. Even with a "low" proof mintage of 25,000, you would be hard-pressed to find any coin less than a 63 and they would go to 68 (a few) or so. I doubt whether there are more than 1,500 - 2,000 real collectors of proof Canadian coins in any single denomination.

Now, with a circulation mintage 10 million of a certain coin, you may have 20,000 that escaped the coin bins and bag marks to get to a 64 or higher. Of those, about 80% will be 64's and another 15% will be 65's. So you have 5% of 20,000 (or 1000 coins) that are spread between 66, 67, & 68 (probably no 68's). Almost all of those 1000 coins will be 66's, so, let's say that there are 100 67's. There are probably at least 5,000 collectors of any certain denomination of Canadian coinage. Most of those 5,000 are looking at scarcity and the highest grade that they can easily afford. On one hand, you have 25,000 proof coins that are 64 or better and none worse.... you can pick them up for a pittance at any coin show or internet offering. On the other hand, you have the same 5,000 collectors looking at the availability of 1,000 coins, almost all in the 64-65 range .... demand exceeds supply and prices go up. A proof coin will never see a cash register till, go across the bar to pay for a cold one, or jingle in your pocket with your loonies and toonies. High grade circulation sytrikes will ALWAYS be worth more than their proof counterparts, unless it is a special proof-only offering.